Next Step Funded Review: What You Need to Know Before Trading

Next Step Funded works as a forex prop firm. It offers funding to those who successfully pass their evaluation process. But there are some things you must know before you decide. 

Make sure to be cautious when considering this option due to many crucial factors. Let’s hop into these aspects in our Next Step Funded review.

Mystery in Trading Details

One common issue with Next Step Funded, as with many other forex prop firms, is the lack of clarity in their trading rules and details. 

This can confuse traders big time, making it harder to grasp the specific criteria and limitations required for safe funding. This company is anonymous and they claim they have offices ‘across multiple continents’. This is just vague. 

Note: Be sure to avoid brokers with warnings from the FCA, like NuxTrade, to ensure your safety.

Trading Platform: Next Step Funded MT4

And what about the trading platform? You can trade on the MT4 platform provided by EightCap, a broker regulated by ASIC. 

This platform is easy to use and offers a variety of tools and charts to help you make better decisions in the markets. Still, they cannot guarantee you will make any profits. 

Overall Trading Conditions

Let’s break down some of the trading conditions. We will cover only the main accounts. 

ONE STEP CHALLENGE

$15,000 ACCOUNT – COST: $125

• Get funded with a $15,000 account for a fee of $125.
• No high-frequency trading (HFT) is allowed.
• You need a minimum of 3 trading days.
• The maximum daily loss is $750 (5% of the account).
• The maximum total loss allowed is $1,800 (12% of the account).
• Phase 1 requires a $1,500 profit target (10% of the account).
• You’ll keep up to 80% of your trading profits.

$25,000 ACCOUNT – COST: $179

• Get funded with a $25,000 account for $179.
• No HFT is permitted.
• Minimum 3 trading days.
• Maximum daily loss: $1,250 (5%).
• Maximum total loss: $3,000 (12%).
• Phase 1: $2,500 profit target (10%).
• You retain up to 80% of your trading profits.

TWO-STEP CHALLENGE

$15,000 ACCOUNT – COST: $98

• Get funded with a $15,000 account for a fee of $98.
• You need a minimum of 5 trading days.
• The maximum daily loss is $750 (5% of the account).
• The maximum total loss allowed is $1,800 (12% of the account).
• Phase 1 requires a $1,500 profit target (10% of the account).
• Phase 2 adds a $750 profit target (5% of the account).
• You can earn up to 80% of your trading profits.

These options seem nice, and you should decide if they benefit you. 

What about the Next Step Funded leverage? Next Step Funded offers a leverage of 1:30 for all its accounts, but you’ll find this info in the FAQs section of their website, not on the main page.

Funding Models & Next Step Funded Payout

As stated in the previous paragraph, Next Step Funded shows 2 funding models:

• Two-Stage Challenge: In this model, traders face a structured process of two stages. They are given a specific time limit to achieve their trading goals.
• Single-Stage Challenge: Here, traders deal with a more flexible approach. It’s a single-stage challenge, and there are no strict time constraints. Traders can progress at their own pace.

Now, when traders begin their journey with the Next Step Funded prop firm, they receive an initial profit share. This initial share ranges from 60% to 80%, depending on the type of account they hold. 

However, the exciting part is that traders have the option to increase their profit share over time. As they prove their skills and reach milestones, they can boost their profit share all the way up to 90%. This means that the more they grow and succeed, the greater their earning potential becomes. So, it’s not just about starting but it’s about progressing and earning more as they do.

Also, we should mention that this company has a $100 minimum withdrawal amount. Still, they did not disclose any payment options. 

Benefits and Drawbacks

When considering the Next Step Funded forex firm, it’s wise that you weigh the pros and cons. On the plus side, you get the chance to begin trading with a substantial account size, access different platforms, and potentially achieve huge profits. 

However, it’s crucial to be mindful of the downsides, including somewhat fuzzy trading rules, high-risk factors, and the potential of losing the evaluation fee. Keep that in mind. 

Note: Avoid unregulated and shady brokers like OrbitGTM. They don’t deserve your attention. 

Step-by-Step Guide to Joining

For those interested in becoming part of Next Step Funded, the firm offers a solid, UI-friendly guide on its site. 

This guide covers the whole process, from understanding the evaluation process to understanding the trading rules.

Tip: This firm offers a HFT bot. Still, try to disregard any results related to “HFT bot prop firm download” as they have no relevance to Next Step Funded and may lead to unnecessary confusion.

Next Step Funded Affiliate Program

Next Step Funded offers a solid affiliate program. You start by paying a one-time fee and then pass a qualifying test. Once approved, you receive the funding and can retain up to 80% of your trading profits. 

What’s more, you have the flexibility to trade at any time, including over the weekends. To become an affiliate and earn commissions, you’ll need to create and actively use an account to get your unique referral link. As an affiliate, you can earn 5% commissions from the trading activities of those you refer. 

Besides, the program talks about one of the industry’s longest cookie retention periods at 120 days. This assures that you earn commissions even if there’s a delay between someone clicking your link and signing up.

Note: Finorax is another suspicious company to stay away from. Keep your funds safe. 

Real Trader Reviews 

This firm has received average reviews on Trustpilot, which can be seen as a bit fishy. 

It’s essential to consider customer feedback when evaluating any business. So, it’s worth digging deeper to understand the reasons behind these average ratings. In this case, people were denied payout, so this is quite problematic.

Success in FX Trading 

Curious about making money through online trading? It’s definitely possible, but it takes know-how and the right tools. That’s why we offer free consultations to guide you in making wise decisions. 

Plus, we’ve developed an AI Analysis Bot, a smart tool that uses predictions to give you practical trading advice. What’s exciting is you can try it out with a 20-day free trial, with no upfront payment required. 

The trial includes 5 FX analysis reports and 5 stock analysis reports each month. Arm yourself with the knowledge and tools to succeed in FX trading.

Final Verdict

Next Step Funded gives a solid opportunity for traders to access funding. Still, it’s strongly advisable to approach it with caution as many details are missing in trading rules.

Before making any commitments, people should weigh all the pros and cons of any forex prop firm. The same goes for brokers! 

FAQs